Supreme Court revived insolvency proceedings against edtech company Byju’s on Wednesday following a lawsuit from US lenders.
The latest court order deepens a crisis that has seen the one-time market darling’s valuation plunge from about $22 billion to less than $2 billion.
Here is an overview of Byju’s and its troubles:
What triggered the Insolvency?
The Indian cricket board last year asked a tribunal to initiate insolvency proceedings against Byju’s for defaulting on $19 million of dues. The dispute is over payments related to sponsorship rights…
